NAME / AREA OF OPERATION
1. The Society shall be called MOTO STAFF SACCO SOCIETY LIMITED; hereinafter referred to in these By-laws as 'the society' and its area of operation shall be NAIROBI PROVINCE.
REGISTERED OFFICE / POSTAL ADDRESS
2. The registered office of the society shall be at the premises of Orbit Chemical Industries Ltd, Mombasa Road, and its Postal Address shall be P.O Box 48870 Nairobi. Notice of any change of either physical or Postal Address of the Society shall be given to the Commissioner of Co-operative Societies, hereinafter referred to in these By- laws as "the Commissioner" through his appointed Representative, and to all members through the best information medium.
DEFINITION / INTERPRETATION
3. In these By-laws unless the context otherwise suggest, words or phrases shall be defined/interpreted in accordance with the Co-operative Societies Act, No. 12 of 1997 and No. 2 of 2004 and the Co-operative Societies Rules made hereunder and these By-laws;hereinafter referred to as "the act" and "the rules" respectively. "Minor" means a person below 18 years. "Share" means the amount represented by a member`s position in the equity of a society as a co-owner. "Deposit" means a sum of money paid on terms under which it shall be repaid, or with or without interest or premium, and either on demand or at any time or in circumstances agreed by and on behalf of the person making the society to receive it at the risk of the soceity receiving it.
4. Any question concerning interpretation of these by-laws or any other matters not provided for therein, errors and omissions shall be referred to the Co-operative Tribunal whose decision thereon shall be final and conclusive.
5. The main mission of Moto Staff Sacco Society Ltd is; To promote Co-operative thrift, facilitate mobilization of savings, provide loans and such other quality financial and related services to its members at fair and reasonable rates in order to improve economic and social development of the members and the country at large, with the help of dedicated officials and enlightened general memberships.
6. Moto Staff SACCO Society Limited`s vision for posterity shall be; To be the most efficient and effective SACCO offering high quality and diversified financial products and exceptional services to its members based on the Co-operative Principles, Values and Ethics duty guided by the role of "accountability and transparency" through the economic empowerment and active popular participation by members.
7. The objects of the Society shall be as laid down in these By-laws and is generally meant to promote the socio-economic interests of the members in line with the Co-operative Values and Principles thereby enabling them to improve. their standards of living.
More specifically the aims of the society shall be as detailed hereunder:-
a. To promote thrift among its members by affording them an opportunity for accumulating their savings, and to create thereby a source of fund from which loans can be made to them exclusively for provident and productive purposes; at fair and reasonable rates of interest thereby enabling the members to use and control their money for their mutual benefit.
b. To invest funds in Banking or Financial Institutions or real estates with the approval of the general members provided that such investments will enhance object (a) above.
c. To provide an opportunity for each of its members to improve his/her respective economic and social status.
d. Offer members complementary Savings and Credit and other financial products such as front office service or withdrawable savings/deposits accounts when/and if required by members. e. Ensure safety and security of members' funds through risk management programme or any other appropriate Insurance Scheme.
f. Educate members on proper methods of credit administration.
g. Perform all those functions and exercise all those powers designated for Savings and Credit Co-operative Societies under the relevant law for the benefit of members.
h. Co-operate with other Co-operatives and be affiliated to apex Co-operative bodies like KUSCCO and KNFC.
i. Perform within the relevant law (the Act, the Rules and these By-laws) all those acts, deeds and things necessary to further enhance, promote or encourage any or all of the foregoing purposes and objects subject to the approval of the Annual General Meeting.
8. In order to achieve the objects for which it is established as detailed in By-law 7, the Society shall act in accordance with the seven internationally accepted Co-operative Principles, namely: -
i. Voluntary and open membership
The society aims at serving its members as well as non-members, (where applicable), in a prudent and effective manner. As such, admission to membership is done on voluntary basis without gender, racial, religious, status or any other form of discrimination to all who can contribute to, and benefit from its activities.
ii. Democratic member control
The Society shall be a democratic and participatory organization actively controlled by its members. This encompasses equal voting rights, on a one member, one vote basis. Administration of the Society's affairs shall be conducted and controlled in a suitable democratic manner. The same democracy shall be applied in decision-making and policy formulation.
iii. Economic participation by members
Members contribute jointly to the Capital of their Society and share in the results of its expansions. The society thereby pays a competitive rate of interest on Capital and remunerate its employees, if any, fairly, according to its financial status. Members may resolve to distribute the surplus on any or all of the following purposes:-
a. Developing or diversifying the business of the Society.
b. Paying dividends in proportion to their share contribution to the Society.
c. Payment of interest on deposits, bonus and /or honoraria as decided by the General Meeting.
d. Encouraging further development of the Co-operative Movement.
iv. Autonomy and independence
The Society shall be an autonomous, mutual-help organization controlled by its members. Any contract with the Government and other relevant organizations shall basically be facilitative and shall be done freely, on mutually acceptable terms that uphold the principles of autonomy.
v. Education, training and information
The Society shall foster reciprocal, continuous education programmes for its members, Management Committee and Staff, so that they can interchange ideas, understand and carry out their respective roles efficiently. The Society shall also have the responsibility to inform the public about the nature and benefits of the Co-operative Movement.
vi. Co-operation among Co-operatives
In order to advance the interest of its members and their communities, the Society shall interact with other Co-operatives in every practical way to attain universal systems of operations either locally, nationally or internationally.
vii. Concern for Community in general.
It is from defined communities that Co-operative Societies thrive. While focusing on its members needs, the Society shall strive to achieve sustainable development of those communities through policies that are environmentally friendly, minimal in social costs, devoid of social decay, and acceptable to the Community at large.
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